Thus The New York Times today. “Fears are growing that the festering turmoil in Ukraine and the new round of sanctions announced Tuesday will damage the economy to the extent that ordinary Russians feel it,” explains the newspaper. Sooner or later, the American and European sanctions will surely be felt by ordinary Russians, but it is a bit early for their new round to penetrate deep into the Russian economy. At this stage, the word “alarm” thus smacks of wishful thinking. It is good to remember that sanctions have rarely had such an effect anywhere around the world, anyhow. If anything, they are turned against those who have introduced them. One way or another, Putin is likely to use the sanctions both old and new against the so-called west. Once key pharmaceuticals get scarce, for instance, every death will be attributed to the uncaring enemies. And if anyone is capable of turning things around, it is undoubtedly Putin, a veritable master of the trade. Instead of alarm, ordinary Russians are much more likely to experience outrage at America and Europe.